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Brazil's Petrobras Settles Lawsuit With Shareholder Vanguard

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Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, said its board has agreed to settle a shareholder lawsuit filed by Vanguard Group to recover corruption-related losses.

Boeing Eyes Higher Sales in Parts and Services

Boeing Co. is doubling down on a profitable parts and services business that could bring the plane maker into competition with its own suppliers.

A.M. Castle Files for Chapter 11 With Deal in Hand

A.M. Castle filed for chapter 11 with a plan backed by a group of hedge funds, including Highbridge Capital Management, which will swap debt for equity in the reorganized company.

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GM Laying Off About 1,000 Workers Amid Downturn in Passenger-Car Sales

General Motors will eliminate a shift at a sedan plant in Kansas City, Kan., laying off about 1,000 people as the nation's largest auto maker continues to shed thousands of factory jobs amid a sharp downturn in demand for passenger cars.

Citigroup's Plan to Revive Its Lagging Stock

Investors want Michael Corbat to change the narrative at Citigroup. Investors and even top executives at the bank say it is time for Mr. Corbat to shift to offense by boosting growth in areas like credit cards, Wall Street stock trading and retail banking.

FTC to Try to Block DraftKings-FanDuel Merger

The Federal Trade Commission said it would file an antitrust lawsuit that seeks to block the proposed merger of fantasy sports companies DraftKings and FanDuel, alleging the deal would harm consumers who play daily fantasy contests.

Sen. Warren Calls for Removal of 12 Wells Fargo Directors

Sen. Elizabeth Warren (D, Mass.) is urging the Federal Reserve to remove a dozen Wells Fargo board directors who served during the bank's sales-practices scandal, according to a letter reviewed by The Wall Street Journal.

Hedge-Fund Manager John Paulson Joins Valeant Board

Hedge-fund billionaire John Paulson has joined the board of Valeant Pharmaceuticals, a sign that the investor remains bullish on the drugmaker's prospects despite accruing steep losses on investments in the firm.

EQT to Buy Rice for $6.7 Billion

EQT Corp. agreed to buy Rice Energy Inc. for $6.7 billion in the latest proposed tie-up between energy producers suffering from low oil and gas prices.

Time Warner Signs $100 Million Deal With Snap for Shows and Ads

In a wide-ranging deal with Snap Inc., Time Warner Inc.'s Turner cable channels and the Warner Bros. studio will create up to 10 original shows a year for the ephemeral messaging app in genres including scripted drama and comedy.

(END) Dow Jones Newswires

June 19, 2017 23:16 ET (03:16 GMT)